Iran, Azerbaijan trade to see 80pct growth
The volume of trade turnover between Iran and Azerbaijan is
estimated to surge by at least 80 percent over the current Iranian
year (to end March 21), an Iranian trade official told Trend.
Considering the close diplomatic ties between Tehran and Baku and
also existing plans for cooperation between the two neighboring
countries, the level of trade turnover is expected to hit $1
billion on the medium-term, Mohammad-Ebrahim Naghizadeh, Iran’s
commercial attache to Azerbaijan, told Trend.
Saying that the value of trade turnover between the neighboring
countries increased by 66 percent over the first half of 2016, the
attache added that there has been a rapid acceleration in the
growth of Azerbaijan’s
exports to Iran.
Naghizadeh mentioned that the boom in the growth of Azerbaijan’s
exports to Iran came as a result of policies adopted by Azerbaijani
government aimed at reforming its economic structure and the
promotion of exports and production.
The Islamic Republic imported worth of $15.4 million of goods from
Azerbaijan over the first quarter of the current Iranian calendar
year which started March 20, according to the latest statistics by
Iran’s Custom Administration,.
The commercial attache describes this year’s increase in the level
of Azerbaijan’s exports to Iran as tremendous, saying that the
volume of Azerbaijan’s exports to the Islamic Republic over the
whole last year stood at $15.5 million.
Naghizadeh further touched upon plans for booming transportation
cooperation between the two countries saying that an ongoing
construction project for linking the railways of Iran and
Azerbaijan is of priority.
He said connecting Iran-Azerbaijan railways will contribute to the
reduction of transportation costs as well as booming their volume
of trade turnover.
Cooperation between Iran and Azerbaijan in transportation sector
will also help increasing the volume of their exports to other
countries such as Russia, Iraq, Afghanistan, Pakistan and India, he
added.
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